It is reported that China Shenhua Energy plans to spend CNY 25.5 million to form a joint venture with Anhui Province Energy Group. The transaction is part of Shenhua Energy effort to accelerate its investment in the power generation field as the new entity will be engaged in electric power and storage and sales of coal.

Shenhua Energy will have a 51% stake in the joint venture, which has registered capital of CNY 50 million. At the end of 2010, Shenhua Energy had total installed capacity of 39.13 million kilowatts. It aims to achieve 62.21 million kilowatts in installed capacity over the next five years.

(Source reports China Securities Journal)